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Glossary Extended Family – A family that consists of more than just the parents and children. Included in the extended family are uncles, aunts, grandparents, nephews, cousins or even less closely associated “relations.” In western countries the extended family rarely exists. The household consists of parents, children and an aunt is too small to be called … Read more
Cadre – A salesperson who receives a relatively large amount of latitude, support, and attention from his or her sales manager. Cadres receive special treatment from their managers from their managers because they are perceived to be particularly competent, motivated, trustworthy. In return for the special treatment, cadres are expected to perform assignments that are … Read more
Vertical Cooperative Advertising – Advertising in which the retailer and other previous marketing channel members (e.g., manufacturers or wholesalers) share the cost. Vertical Integration – 1. (channels of distribution definition) The combination of two or more separate stages in the channel through ownership, including mergers or acquisitions. 2. (environment definition) The expansion of a business … Read more
Value Added by Marketing – The increase in value due to performance of marketing activities by a firm. Value added by marketing is computed by subtracting the market value of purchased goods from the market value of goods sold. Value Adding Reseller )VARs) – Retail intermediaries who modify equipment, integrate several components into a system … Read more
Unfair Competition – 1. (environments definition) The rivalry among sellers through the use of practices deemed to be unfair by judicial, legal, or administrative agencies such as selling products below cost to drive a competitor out of business, or dumping goods in foreign markets. It is defined in antitrust laws as act to mislead and … Read more
Traffic Item – A consumer product in demand and with high replacement frequency that regularly brings traffic to a store or department. Traffic Management – A corporate function that is responsible for determining the mode of transportation and utilization of transportation equipment as well as general administration of the movement of goods by the firm. … Read more
Total Cost of Goods Sold – The gross cost of goods sold plus alteration room and workroom and workroom net cost, if any, less each discount earned on purchases. Total Revenue – The price per unit multiplied by sales volume and summed over all products and services. Tracker – A model using three waves of … Read more
Tariff – A published set of rates for transportation and distribution services. Tariff System – The system of duties applied to goods and services from foreign countries. It may be a single rate of duty for each item applicable to all countries or groups of countries or two or more rates applicable to different countries … Read more
Strip-Type Shopping Center – A shopping center in which stores are aligned along a thoroughfare, usually set back some distance from the street to permit front parking. Stub Control – A perpetual inventory system of unit control in which sales information is obtained from stubs of price tickets rather than from sales checks, scanning of … Read more
Straight Salary Plan – A sales force compensation plan that relies exclusively on salary as a financial reward for salespeople. A salary is a fixed sum of money paid at regular intervals. the amount paid to the salespeople is a function of the amount of time worked rather than any specific performance. Two sets of … Read more